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| Professot Yemi Osinbajo, SAN, GCON |
The Forum was attended by leading members of the organised private
sector and other key stakeholders; and had seven Honorable Ministers, including
Industry, Trade & Investment, Finance, Budget & National Planning and
Power, Works and Housing present to share detailed progress reports with
representatives.
The DBI is an annual ranking that objectively assesses prevailing
business climate conditions across 190 countries based on 10 Ease of Doing
Business (EoDB) indicators. The Index offers comparative insights based on
private sector validation of reforms delivered in the two largest commercial
cities in countries with a population higher than 100 million, and the report
consequently features Lagos and Kano states for Nigeria.
The World Bank has reported an improvement in Nigeria’s Distance
to Frontier (DTF) score by more than 11 basis points over the past 3 years.
This means that Nigeria has improved its business regulations as captured by
the doing business indicators, and is narrowing the gap with global regulatory
best practice. This success has been driven by the implementation of over 140
reforms by PEBEC over the period, which also resulted in the country moving up
24 places in the rankings.
Speaking on the sub-100 target, Dr. Jumoke Oduwole, the Secretary
of the Presidential Enabling Business Environment Council (PEBEC) and Senior
Special Assistant to the President on Industry, Trade & Investment, said
“We know it is bold, but we are quite clear on what our mandate is and are
motivated by the impact we know these reforms will have on the lives of
Nigerians”.
Since its establishment in 2016, PEBEC in collaboration with MDAs
and other public and private sector partners, has systematically worked to
remove bureaucratic bottlenecks faced by businesses in Nigeria. The Council has
focused on reducing the time, cost and procedures of doing business, and some
of its successful reforms include the ability of stakeholders to reserve a
business name within 4-hours and complete the registration of a company within
24 hours online; apply for and receive approval of a visa-on-arrival
electronically within 48hrs; file and pay all federal taxes online; and access
specialised small claims commercial courts in Lagos and Kano States, to mention
a few. The World Bank also reported in 2018 that 32 states improved in their
EoDB environment led by Kaduna, Enugu, Abia, Lagos and Anambra.
Dr. Oduwole stated further “This year, we intend to strengthen the
collaboration with MDAs and partners to consolidate and build on the work done.
We will be pursuing the implementation of much-needed legislative reforms,
specifically the passage of the CAMA and Omnibus Bills; the expansion of the
regulatory reform program started with NAFDAC and NAICOM to include other
regulators; the establishment of a National Trading Platform for ports; and the
concession of our major international airports. We will also continue to
cascade the EoDB initiatives down to the sub-national level working with the
state governments, and will release the first sub-national survey report in
April 2019”.
“We remain firm in our conviction of the immediate and long-term
benefits of the PEBEC reforms. We have put in place frameworks for improved
communication and engagement between government stakeholders and private sector
players, as we intend to ensure the reforms are validated to enable us achieve
our sub-100 place in the rankings” she said.
PEBEC is chaired by the Vice President Prof. Yemi Osinbajo, SAN,
with the Minister of Industry, Trade and Investment as Vice Chair. The Council
has 9 other ministers, Head of Civil Service of the Federation, Governor of CBN
and representatives from the National Assembly and private sector as members.
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